| DFW apartments 3Q 2012: Hendricks & Partners | DFW apartments 3Q 2012: Hendricks & Partners | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=8900 | 2012-11-30T06:53:00Z | 2012-11-30T00:00:00Z |
DALLAS-FORT WORTH - The DFW apartment supply has increased by 3,920 units so far this year. With another 2,260 units expected in the final quarter 2012, full-year completions are anticipated to exceed the 5,290 apartments that came online in 2011.
In third quarter, multifamily permit issuance reached an annualized total of 13,650 units, 9 percent above the previous quarter.
Average vacancy increased 6.2 percent in the past three months with asking rents in the DFW area rising 1 percent to $826 per month in 3Q.
DFW Multifamily
3Q 2012 / 3Q 2011 Comparison Vacancy and Rent
Submarkets
5+ Units |
Vacancy |
Average Rent |
|
3Q 2012 |
3Q 2011 |
3Q 2012 |
3Q 2011 |
|
Uptown / Oak Lawn |
4.6% |
4.1% |
$1,462 |
$1,382 |
|
North Dallas / Highlands |
6.8% |
9.2% |
$720 |
$708 |
|
Irving |
5.1% |
5.6% |
$844 |
$803 |
|
Far North Dallas / Carr / Addison |
5.1% |
6.1% |
$851 |
$825 |
|
Plano / McKinney / Allen |
5.0% |
3.8% |
$955 |
$913 |
|
Denton / Lewisville |
5.2% |
5.9% |
$889 |
$856 |
|
Garland / Mesquite |
6.2% |
7.6% |
$719 |
$691 |
|
East Dallas / Vickery |
7.4% |
8.1% |
$820 |
$797 |
|
South Dallas / DeSoto / Lancaster |
8.5% |
9.1% |
$774 |
$744 |
|
Arlington / Mid-Cities |
6.1% |
8.3% |
$718 |
$695 |
|
South Fort Worth / Woodhaven |
10.6% |
12.2% |
$624 |
$605 |
|
Southwest Fort Worth / Benbrook |
6.2% |
6.6% |
$805 |
$821 |
|
North Fort Worth / Richland Hills |
5.9% |
6.1% |
$837 |
$812 |
|
Totals |
6.2% |
7.2% |
$826 |
$806 |
View the full report at Hendricks & Partners.
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